24 November 2021, Mumbai:

Fashion e-commerce platform Myntra has launched M-Live. This will bring an interactive and real-time live shopping experience and cater to the rapidly evolving content consumption patterns and preferences of consumers.

With M-Live, which is a proprietary live video streaming and live commerce platform, Myntra is paving the way for the future of shopping that resonates with today’s social media savvy, fashion-conscious generation.

M-Live aims to facilitate real-time engagement between consumers and brands by allowing influencers and experts to host live video sessions of product and styling concepts curated by them, on the Myntra app, enabling viewers to shop instantly.

With several concurrent users joining the live sessions, it also gives users the opportunity to shop as a community and benefit from the community's knowledge, observations, questions, and comments, enabling a more confident shopping decision that is backed by social validation.

Other propositions offered by Myntra are Myntra Studio and Myntra Fashion Superstar. Myntra Studio provides users with access to over 20,000 original, inspirational, and shoppable fashion, beauty, and lifestyle content assets at scale. Myntra Fashion Superstar is a digital reality show that continues to host some of India’s popular fashion and beauty influencers.

Myntra targets fashion and social media-savvy young men and women who are looking to have access to the best-in-class fashion advisory and in-demand trends.

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TOP 5:

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19 November 2021, Mumbai:

Khadim India will open 80 new stores across India by the next financial year. These would mostly be in the franchisee model.

The idea is to retain cash with a focus on making profits compared to company-owned, company-operated stores as they take anywhere between one to two years to break even.

As of now, Khadim India has an overall of 555 franchise stores. The homegrown footwear major expects if trends continue then by the third quarter or by the second half of this fiscal business should be back at pre-Covid levels. As of now, business is at 80 percent of pre-Covid levels.

Khadim has partnered with the digital marketing solutions agency Social Beat, which will manage Khadim’s social media marketing and media buying and will help drive store visits and acquire shoppers via Google’s suite of apps and build Khadim’s online brand presence to tell their unique story via social media.

Founded in 2012, Social Beat helps enable businesses to build their brands and achieve business results via the digital medium. Its expertise with video storytelling makes it the preferred digital marketing solutions partner for brands and businesses as it seeks to engage with audiences in both urban and rural markets.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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Nykaa’s revenue grew 47 per cent in the second quarter.The e-com beauty company has maintained its growth momentum. Increased marketing spends have led to an acceleration of customer acquisition, which is also evident in the unique visitor and transacting customer metrics.

Nykaa's beauty and personal care GMV (gross merchandise value) grew 38 per cent year on year while fashion GMV grew by 215 per cent.

Fashion GMV’s contribution to consolidated GMV increased to 27 per cent compared to 14 per cent in the second quarter of last year.

Monthly average unique visitors increased to 21 million with year-on-year growth of 62 per cent in the beauty and personal care vertical and 16 million with year-on-year growth of 328 per cent in the fashion vertical.

The company accelerated store expansion this quarter, with eight new retail stores across the country, including Gwalior, Kochi, Mysore, and Ranchi. Its total operational physical stores are 84 as of now.

The acquisition of the skincare brand Dot & Key marks a significant step towards Nykaa's owned brands strategy.

The company has launched the Nykaa eB2B app - Nykaa Superstore. The business will be an area of focus for the quarters to come. On the fashion side, Nykaa has launched the brand Gajra Gang in the Indian wear space.

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19 November 2021, Mumbai:

Fashion and lifestyle brand Guess plans to open 50 stores across India and touch a revenue mark of Rs 300 crore in the next five years. It will open its first ten stores this financial year.

The plan is to expand the base to the metropolitan cities and slowly penetrate into tier-2 markets, touching the top-grossing malls for the ease of consumers, said Manoj Nair, CEO, Gaurik Lifestyle - Guess International, its licensee in India.

“Then, we will gradually look into approaching the micro-markets and launching accessory stores in smaller cities that will carry our key categories like handbags, watches, etc,” he added.

ET

(The news article has not been edited by DFU Publications staff)

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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15 November 2021, Mumbai:

For the second quarter Spencer’s Retail’s revenue was down by six per cent. However, total expenses declined seven percent.

Spencer’s standalone performance witnessed a sales growth of seven per cent compared to the previous quarter owing to an improvement in sales of non-food category led by general merchandise and apparels.

With lockdown easing in the September quarter, the company’s operational hours also improved as compared to the previous quarter. The company also continues to see strong momentum in its omnichannel business for the second quarter.

The Kolkata-based Spencer's Retail currently operates around 190 multi-format stores in over 42 cities in India. During the quarter, the company added two new Spencer’s stores. Spencer’s has moved a part of its portfolio to value-added, differentiated products. Private labels now consist of about 13 percent of the portfolio.

Apparel margins have gone up by six percent and apparel sales are going up. In general merchandise, the company’s margins have gone up by three percent and the ratio of general merchandise sales to total sales is also going up.

Spencer’s is working on cultural integration, ensuring continuity of customer experience and business, business synergies, and cross synergies identification.

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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17 November 2021, Mumbai:

For the second quarter, Liberty Shoes’ revenue rose 15 percent. The footwear major managed to narrow its net loss during the second quarter. This was possible with strong sales ahead of the festive season.

Liberty expects to have a strong third quarter on the back of festive and wedding season sales. With the lifting of restrictions on Covid across the country, Liberty stores are fully operational with increased footfalls resulting in higher revenue over the last few months and it expects the trend to continue in the coming quarters.

Liberty Shoes currently has a total of over 400 flagship stores across India and is present in over 5,000 multi-brand outlets. It also retails from its e-commerce store. Liberty Shoes’ total income was Rs 168.25 crores during the period ended June 30, 2019, as compared to Rs 143.99 crores during the period ended March 31, 2019.

Net profit was Rs 2.36 crores for the period ended June 30, 2019, as against Rs 1.34 crores for the period ended March 31, 2019. EPS was Rs 1.39 for the period ended June 30, 2019, as compared to Rs 0.79 for the period ended March 31, 2019.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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10th November 2021, Mumbai:

BrandMan Retail has acquired the retail arm of American sportswear brand New Balance in India. New Balance sells products like performance-oriented shoes and apparel. New Balance is an iconic brand synonymous with performance and aesthetic.

With growing focus on sports and fitness in India, BrandMan sees a huge potential in expanding presence across the country with a long-term sustainable growth strategy. The retail solutions provider, based in New Delhi, will represent the company’s presence in India via omnichannel retail, taking over from earlier India partner, Major Brands.

BrandMan has already set up retail stores for the company in malls across India. New Balance will grow its presence across India with key retail players like Shoppers Stop, Lifestyle, among others. They will likely have 35 points of sales across India before the end of fiscal 2021-22. The company will also retail online. New Balance would be available for retail across standalone stores as well as shop-in-shop models. It will also have an extensive online presence across the BrandMan's website as well as on Nykaa and Tata CLiQ. New Balance is based in the United States.

India's retail sector was estimated at $883 billion, with grocery retail accounting for $608 billion. The market is projected to reach $1.3 trillion by 2024.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.  

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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22 November 2021, Mumbai:

Vipresh Shah, a home products salesperson, has gone eight days without selling a single box of Dettol soap to the storekeepers who have been purchasing from him since he took over his family's business 14 years ago when he was a teenager.

Shah works as an authorised Reckitt Benckiser distributor in Vita, near Sangli, some 200 miles south of Mumbai. Instead of placing purchases, he added, once-loyal clients now refer to an app on their cell phones called JioMart Partner, which shows costs up to 15% cheaper.

"I used to be like a prince in the market as Reckitt's distributor," Shah remarked. "Now the customer says, 'See how much you've been taking advantage of us!” The 31-year-old said he lost $2,000 of his own money by discounting items to match costs on JioMart, the app launched by Mukesh Ambani, the billionaire founder of Reliance Industries, in his effort to revolutionise retail distribution in India.

Mom-and-pop businesses, which account for four-fifths of India's near-$900 billion retail sector – more than $700 billion – are increasingly turning to JioMart to stock up on global and indigenous products in areas like tiny town Vita.

Ambani, India's richest man, has upset the country's telecommunications business, and now he's set his sights on disrupting retail distribution, taking on American e-commerce behemoths like Amazon and Walmart Inc, which are rapidly growing in India.

There are around 450,000 traditional distributors in the country, each with legions of salesmen to service every corner of the huge country, which includes 600,000 communities.

They generally make a 3-5 percent profit margin on product pricing and receive orders once a week, with deliveries to merchants taking only a few days. However, Reliance's business strategy puts a kink in the supply chain: kiranas, or mom-and-pop shops, may place orders on JioMart Partner, with delivery guaranteed within 24 hours.

Customers of linked kiranas can also get ordering training, credit, and free product samples from Reliance.

According to discussions with salespeople, 20 distributors, and a trader group with members across India, hundreds of thousands of salesmen representing consumer giants like Reckitt, Unilever, and Colgate-Palmolive face an existential threat to their company.

As shops engage with Reliance, several of the distributors contacted by Reuters said they had trimmed their employees or car fleet, seeing their sales through door-to-door agents decline 20-25 percent in the previous year.

Shah, a salesperson in Vita, said he had to lay off half of his four-person team. He believes the 50-year-old family business will fail over the next six months.

Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India, Noida

Return to homepage